It’s Not Just the Interest Rate: How Congress Can Help Students

Flanbwayan Haitian Literacy Project

It’s Not Just the Interest Rate: How Congress Can Help Students

The best way to puncture the student debt balloon would be to limit the use of student loans in the first place – in other words, to increase grants and scholarships, ensure they’re targeted at needy families, and boost their buying power, ultimately by controlling the cost of higher education. Here are three straightforward ways to help current and future borrowers: Strengthen income-based repayment programs … Lower barriers to refinancing … Reign in abusive collection practices.